Ecuador Economic Activity June 2022

Ecuador

Ecuador: Economic activity growth slides to over one-year low in June

August 18, 2022

Economic activity rose 4.3% year on year in June, which was a deterioration from May's 12.4% increase. The result marked the worst reading since February 2021, and was likely driven by widespread protests over rising prices, which disrupted business activity and the transport sector. Taken together, the monthly readings for April to June suggest the economy lost steam relative to Q1.

Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 13.1%, down from May's 14.2% reading.

LatinFocus Consensus Forecast panelists project GDP to grow 2.7% in 2022, which is down 0.1 percentage points from last month’s estimate. For 2023, the panel sees GDP expanding 2.4%.


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Ecuador Economic Activity June 2022

Note: Year-on-year changes and annual average variation of economic activity index in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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